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Rainmaker
1,191,191
Lyn Sims
RE/MAX Suburban - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg IL Area Real Estate

Just did a post about a survey on this & it is buyer cannot get financing. Gene Mundt just got interviewed about the app to crash ratio.

Jan 10, 2017 05:06 AM
Rainmaker
1,688,419
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

I haven't had but one fail in several years... and that one failed over inspections.

Jan 10, 2017 03:40 AM
Rainmaker
2,986,784
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Paul,

The one that hurt the most was a big luxury store deal in Beverly Hills.  Everything was done, the designer flew in from Japan to OK the deal, the money was in the trust account ready to be disbursed...the last hurdle was the Feng Shui master who flew in from San Francisco to check out the location...decided the wind blew the wrong way....

I bought every book on Feng Shui that day and read everyone of them in less than a month...never had a Feng Shui encounter after that, although I learned a lot.  A

Jan 10, 2017 08:28 AM
Rainmaker
194,816
Ken Jones
RE/MAX at Barnegat Bay - Toms River, NJ
ASA, SCGREA

Paul S. Henderson, REALTOR®, Broker, Tacoma Washington About 3 years ago, I lost one when the buyer's wife was deported back to India because her job was eliminated which voided her H-1B visa.

(Really strange, when you consider the millions of illegals in the US for years without being deported.)

Jan 10, 2017 08:04 AM
Rainmaker
198,159
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Financing.

Jan 10, 2017 06:57 AM
Rainmaker
510,391
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

1. Chase

2. Bubba inspection services

3. Buyer remorse

Jan 10, 2017 05:12 AM
Rainmaker
872,413
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
The Susan & Mindy Team...Your Concierge Agents

I had to stop and think about failed transactions, which I suppose is a good thing.  One buyer fell out because the house was in much worse shape than it initially appeared and one seller fell out of its first contract (2nd one came along quickly) because the buyer got cold feet. 

Jan 10, 2017 05:10 AM
Rainmaker
401,510
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & personality!

I'm thrilled that I'm trying to remember the failed transactions...  ;)    I do know that the biggest challenge to overcome is typically inspections. Old does NOT mean broken is my repetitive mantra in this areana!

Jan 10, 2017 04:28 AM
Rainmaker
243,661
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Santa Rosa Beach, FL
Your Bucket List Broker in Destin, Fl..

It is not a number that I track but financing seems to ring a bell right now.

Jan 10, 2017 03:34 AM
Ambassador
2,995,249
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thankfully they have been rare, but had 1 appraisal issue 2 years ago, and 2 properties (same buyer) with easement issues

Jan 11, 2017 03:58 PM
Rainmaker
2,006,416
Will Hamm
Hamm Homes - Denver, CO
"Where There's a Will, There's a Way!"

I am dealing with a deal closing next week and agent just called and said mortgage company will probably not do the loan.

 

Jan 11, 2017 11:03 AM
Rainmaker
1,185,517
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Allison James Estates & Homes & Realty One - Carlsbad, CA
Presence,Persistence & Perseverance

Overwhelming issues cropping up from a home inspection that are not negotiated away.

Jan 11, 2017 07:22 AM
Rainmaker
251,644
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

I don't have a lot of failures but probably financing has been the biggest.

Jan 10, 2017 09:08 PM
Rainmaker
2,982,622
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Inspection/disclosure issues

Jan 10, 2017 08:20 PM
Ambassador
3,579,432
Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

Inspections for me - and only for huge surprises.  At least that happens really early in the transaction time frame and we can move on.  

Jan 10, 2017 07:48 PM
Ambassador
1,635,522
Fred Griffin
Frederick Griffin, Exclusive Buyer's Broker - Tallahassee, FL
Licensed Florida Real Estate Broker

Loan denied.

Jan 10, 2017 07:18 PM
Ambassador
2,902,001
Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I don't have them fail often but when it does it usually is a financing or underwriting issue.

Jan 10, 2017 06:24 PM
Ambassador
2,666,304
Bob Crane
Woodland Management Service - Stevens Point, WI
Forestland Experts! 715-204-9671

Most of those can be worked around, but if the buyer has second thoughts it is easy to let these other issues become roadblocks.

Jan 10, 2017 06:22 PM
Ambassador
2,136,367
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

It's been some time since I've had one fall through. I think the last one was because the buyers found something they liked better. 

Jan 10, 2017 03:30 PM
Rainmaker
407,500
Gloria Valvasori, ASA
Better Homes and Gardens Real Estate Signature Service - Streetsville, ON
Outstanding Service Since 1987 416-717-6331

I haven't had a transaction fail in quite a while, which is a good thing... but the last sale did not firm up because what the lawyer discovered during a review of the Status Certificate for a condo townhome.  There was a Special Assessment levied for the ocmplex to each unit onwer which was not disclosed by the Seller, and he was not willing to pay it.

Jan 10, 2017 03:22 PM
Ambassador
3,167,705
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Paul S. Henderson, REALTOR®, Broker, Tacoma Washington - if any one party is not on top of the activities related to the transaction - it can fail!

Jan 10, 2017 03:19 PM
Rainmaker
665,494
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Thinking they ain't got their money worth. 

Jan 10, 2017 09:27 AM
Rainmaker
778,216
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Egos and agents who can't manage their clients or don't know how to talk to them.

Jan 10, 2017 09:15 AM
Rainmaker
2,069,478
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I sweat out the appraisal stage...all else is predictable

Jan 10, 2017 07:40 AM
Rainmaker
820,127
Les & Sarah Oswald
Eastvale Team Realty & Property Mgmt - Eastvale, CA
Broker, Realtor and Investor

Financing. Wish the preapproval letter had some weight on it. That is why it is so important to work with a reputable and experienced agent.

Jan 10, 2017 07:20 AM
Rainmaker
1,195,903
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Paul S. Henderson, REALTOR®, Broker, Tacoma Washington The underwriter.

Jan 10, 2017 06:59 AM
Ambassador
929,498
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Most of my houses are new with 800 credit score investors but on existing it would have to be inspection.

Jan 10, 2017 06:41 AM
Rainmaker
580,101
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Right now.... APPRAISALS!!!!

Jan 10, 2017 06:35 AM
Rainmaker
3,480,770
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's probably inspection issues as number 1.

Jan 10, 2017 06:18 AM
Rainmaker
2,026,836
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Lack of communication about potential bumps in the road is the largest culprit!

Jan 10, 2017 06:06 AM
Rainmaker
1,963,390
Richard Weeks
Dallas, TX
REALTOR®, Broker

In our market low appraisals.

Jan 10, 2017 06:05 AM
Rainmaker
430,918
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Property condition issues exceeding buyer threshold of pain and sellers willingness or ability to correct.

Jan 10, 2017 06:01 AM
Rainmaker
103,944
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

The number one reason for any of my transactions failing is because of financing. More specifically, the buyers got "pre-approved" and used one of the large, national financial institutions.

I've had 3 horrible experiences with two of the big banks and would highly recommend that buyers go with a local lender whenever possible.

Jan 10, 2017 05:49 AM
Rainmaker
2,106,941
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

The top 2 are inspections and mortgage rejection. By inspecting the home before listing and having the seller take care of things before showing, we can elimintae most items except what can not be seen such as well, septic or a hidden defect. With the mortgage aspect, having buyers be pre approved can reduce the rejections

Jan 10, 2017 05:39 AM
Rainmaker
424,747
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

I tell buyers that there are three reasons that transactions fail.

  1. Loan Approval,
  2. Homes Inspection
  3. Buyer's Remorse.

I would say that over 90% fail for one of these three reasons and in that order.  The Realtor can help but only to a certain point.

Jan 10, 2017 05:25 AM
Rainmaker
3,525,594
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

when I was active, it was RARE that a transaction failed.... rare...

Jan 10, 2017 05:14 AM
Rainmaker
3,774,690
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I have not tracked this information.

Jan 10, 2017 04:41 AM
Rainmaker
1,974,294
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Number one appraisal number two inspections.

Jan 10, 2017 04:27 AM
Rainmaker
3,347,178
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Inspections

Jan 10, 2017 04:25 AM
Rainmaker
2,128,568
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Peter Mohylsky nailed this one!

Jan 10, 2017 04:19 AM